Metals: 10 Mistakes that Most People Make

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Scrap Copper Price Value

Copper has become one of the most valuable metals in the automotive industry.Copper has helped in the manufacture of cars and trains, and without it, we would still exist in the stone age..Mining of copper is expensive and requires a lot of labour and processes.It’s because of this reason that industries recycle copper for re use.As prices for copper fresh from the mine rise so does scrap copper.

There is a lot of wealth that comes from buying and selling these scrap metal but people have not seen it yet.You only need to walk in public areas to see that there are many metal items discarded everywhere.Items such as copper wire, which you will find discarded, actually, have value.Collecting copper with a weight of 50 pounds will get you USD 100 when the price is 2USD per pound. Many people might find that amount of money to be meager for 50-pound metal.They don’t realize that metals are naturally heavy.Therefore, it does not take people long to accumulate a 50-pound metal.

This high demand of copper has caused government agencies, construction companies, and automotive industries to bargain for the recycled copper.This metal has other uses other than in the automotive industry, you will find that copper is also used in the construction industry.Fresh copper from Latin America goes for over $8,000 per ton.This leads company to recycle their copper to save money.This is because the price of scrap copper is usually half of the freshly mined copper.This creates a good opportunity to cash in on the metal.
The copper scrap is dominated by automotive industries in Europe and the United States.Based on the U.S. automotive Recycling Index, copper price is $2 per pound on average.Due to this reason of the 6.5 million automobiles discarded in the U.S.,95% are recycled.The scrap copper is usually reprocessed and re used in the U.S. automotive industries to manufacture new automobiles.In 2005 the automotive industry reprocessed 803 million pounds of used copper into new materials to produce about 12million new vehicles.

The price of scrap copper is controlled and monitored by the London Metal Exchange.One can find the prices of scrap copper on online local or international websites which update the copper scrap prices regularly.The copper scrap prices reports can also be found from the European Union, the United states, China, Korea, and Brazil websites.Most sites in the U.S. usually provide free reports and subscription on scrap metal prices.